Wow, this totally came out of left field. Eric Schmidt just
announced that he is stepping down as Google's CEO -- a position that he has held
since August 2001. Google co-founder Larry Page will take over the CEO position
effective April 4, 2011.

For
the last 10 years, we have all been equally involved in making decisions. This
triumvirate approach has real benefits in terms of shared wisdom, and we will
continue to discuss the big decisions among the three of us. But we have also
agreed to clarify our individual roles so there’s clear responsibility and
accountability at the top of the company…

We
are confident that this focus will serve Google and our users well in the
future. Larry, Sergey and I have worked exceptionally closely together for over
a decade—and we anticipate working together for a long time to come. As
friends, co-workers and computer scientists we have a lot in common, most
important of all a profound belief in the potential for technology to make the
world a better place. We love Google—our people, our products and most of all
the opportunity we have to improve the lives of millions of people around the
world.

Although Schmidt will no longer be Google’s CEO, he will
stay on as Chairman and will serve as an advisor for Larry Page and Sergey
Brin.